Market Segmentation For Wellness Businesses

Most conventional business plans expect you to go through a bunch of steps with very little relevance to building and growing a successful wellness business.

One example: the requirement for demographic market segmentation.

Traditional segmentation is the description of your potential customers by income, age, gender, etc.: “Our target market is busy married women with two or more kids who work fulltime and have a household income of at least $75,000.”

That data may help Procter and Gamble sell Tide laundry detergent, but it’s not likely to help YOU sell your health and wellness services.

Instead, your business should develop a wellness-oriented segmentation that describes which groups (or segments) of people your business serves best.

Common market segments that matter to health and wellness businesses, with examples:

1) Current health concerns

 “My back hurts”

“I want to stay in shape and have a healthy baby”

2) Future health anxieties

“My mom had a broken hip, I sure don’t to end up like her”

“I have Type 2 diabetes and my doctor says I might have to start taking insulin”

3) General dissatisfaction with current wellbeing

“I just feel like we should be eating better”

“I’m just exhausted by the end of the week.”

4) Concern about family wellness

“Bob’s doctor wants him to take Crestor and Janey just plays Nintendo”

&”Petey’s school says he’s at the 99th percentile for weight.”

5) Price sensitivity

“If I feel like it really works for me, I’m not as worried about price”

&”I’d be willing to pay up to $65 for a gym membership, but I’d never pay over $100″

6) Level of self-direction (vs externally-provided structure or direction)

“Just tell me what to eat and I’ll make it happen”

“I need a class or I won’t get around to it on my own.”

7) Gender-influenced concerns

For example: women are much likelier to prioritize weight concerns and raising healthy kids, while back problems concern both men and women.

Other dimensions to consider include:

Preference for solo activity, large group, small group, etc.

Life stage – young adult, young marrieds, empty-nesters, and so on.

Time-of-day pressures and inclinations – early birds, night owls, swing shift, rotating work schedules and so on.

Preference for face-to-face interaction, email or phone interaction, etc.

Respect for credentials and other formal evidence of expertise

Technology affinity – early adopter, uncomfortable online, etc.

Temperament and personality – risk-averse, curious, adventurous, methodical, etc.

 

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